The Commonwealth Bank Household Spending Intentions (HSI) series data to end June 2020 shows that, notwithstanding the concerning increase in COVID-19 cases in Victoria and subsequent reintroduction of lock-down measures, the re-opening of large parts of the Australian economy is clearly evident in a general improvement in spending intentions in June 2020. In a positive sign, Home Buying, Retail sales, Travel (off a very low base) and Entertainment spending intentions all improved in June. After being solid for a number of months, Health and Fitness spending intentions declined in June, while Education spending intentions continued to be soft. Motor Vehicle spending intentions look to have stabilised.
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